scholarly journals Financing Innovation: Evidence from R&D Grants

2017 ◽  
Vol 107 (4) ◽  
pp. 1136-1164 ◽  
Author(s):  
Sabrina T. Howell
Keyword(s):  
Venture Capital ◽  
Experimental Evaluation ◽  
Early Stage ◽  
New Ventures ◽  
Large Sample ◽  
Grant Program ◽  
The Us ◽  
Quasi Experimental ◽  
Positive Impacts

Governments regularly subsidize new ventures to spur innovation. This paper conducts the first large-sample, quasi-experimental evaluation of R&D subsidies. I use data on ranked applicants to the US Department of Energy's SBIR grant program. An early-stage award approximately doubles the probability that a firm receives subsequent venture capital and has large, positive impacts on patenting and revenue. These effects are stronger for more financially constrained firms. Certification, where the award contains information about firm quality, likely does not explain the grant effect. Instead, the grants are useful because they fund technology prototyping.(JEL D22, G24, G32, L53, O31, O34, O38)

scholarly journals Nurturing a Venture: A Venture Capitalist's Perspective

2003 ◽  
Vol 28 (2) ◽  
pp. 83-87
Author(s):  
Vishnu Varshney
Keyword(s):  
Venture Capital ◽  
Capital Investment ◽  
New Technologies ◽  
Early Stage ◽  
New Ventures ◽  
Expert Advice ◽  
Venture Capitalist ◽  
Great Success ◽  
Venture Capital Investment ◽  
Promotional Effort

The concept of venture capital originated in the US in 1946. A number of new technologies which could be commercially exploited had come up after the Second World War and funds given for such ventures were called venture capital investment. Though the venture capital movement has been in existence for more than three decades in India, it has only recently gained momentum. New ventures found it difficult to get funding from the banks as they did not have any collateral to offer. Hence, venture capital industry was started in India to fund such enterprises. Gujarat Venture Finance Limited (GVFL) was set up by the World Bank in 1990. Till date, it has funded 56 companies from all over the country. GVFL supports only technology-oriented companies. Funding is provided in stages. The money given at the seed or early stage is called angel funding. This paper documents how GVFL funded and nurtured a venture called Permionics which was involved in manufacturing an innovative water filter and helped it to grow into a commercially viable enterprise. This was not smooth sailing and the venture did not take off initially as the project required a lot of product innovation and market research for its feasibility. However, the venture capitalist persisted with the efforts in making the venture successful as he had faith in the product. Thus, he went beyond hand-holding and helped in the company's promotional effort, getting expert advice, solving internal disputes, coordinating strategic tie-ups, etc. After some trial and error, the product was finally relaunched and was a great success. The main conclusions emerging from this paper are: A venture capitalist's contribution is not just funding an enterprise but also seeing to its proper functioning. A venture capitalist provides necessary linkages to the entrepreneur for the growth of the enterprise. A venture capitalist not only provides moral support but also helps in forming the company. He is more of a partner than an outsider. A good venture capitalist sees the enterprise through its ups and downs until it becomes a commercially successful venture.

scholarly journals Multiyear patterns regarding the relative availability of venture capital for the US biotechnology industry

1969 ◽  
Vol 15 (4) ◽  
Author(s):  
J Leslie Glick
Keyword(s):  
Venture Capital ◽  
Early Stage ◽  
Coming Of Age ◽  
Personalised Medicine ◽  
Biotechnology Industry ◽  
Long Run ◽  
Start Up ◽  
The Us ◽  
Biotechnology Companies ◽  
Long Term Trends

Venture capital (VC) funding of US biotechnology companies was analysed relative to total VC investments placed in US companies from 1995 to 2007. During those years, except for a spike because of the dot-com bubble from 1999 to 2001, VC funding of US biotechnology companies grew at a faster rate percentagewise than total VC funding of US companies, with respect to annual dollars invested, number of deals closed and the mean dollar investment. Start-up and early-stage VC funding of US biotechnology companies also grew at a faster rate percentagewise, with respect to all three parameters, than total start-up and early-stage VC funding of US companies. It was further observed that long-term trends in the availability of VC for biotechnology do not appear to be affected by perturbations in the financial markets and short-term fluctuations in the availability of VC. It was concluded that the biotechnology industry should continue to attract VC over the long run particularly because of the emerging impact of personalised medicine and the coming of age of bioenergy.

TTIP, CETA, and TiSA Behind Closed Doors

2017 ◽  
Author(s):  
Panagiotis Delimatsis
Keyword(s):  
European Union ◽  
Global Governance ◽  
Early Stage ◽  
European Parliament ◽  
Trade Negotiations ◽  
The European Union ◽  
The Us ◽  
The Eu

Secrecy and informality rather than transparency traditionally reign trade negotiations at the bilateral, regional, and multilateral levels. Yet, transparency ranks among the most basic desiderata in the grammar of global governance and has been regarded as positively related to legitimacy. In the EU’s case, transparent trade diplomacy is quintessential for constitutional—but also for broader political—reasons. First, even if trade matters fall within the EU’s exclusive competence, the EU executive is bound by the Treaty on the Functioning of the European Union (TFEU) to inform the European Parliament, the EU co-legislator, in regular intervals. Second, transparency at an early stage is important to address public reluctance, suspicion, or even opposition regarding a particular trade deal. This chapter chronicles the quest for and turning moments relating to transparency during the EU trade negotiations with Canada (CETA); the US (TTIP), and various WTO members on services (TiSA).

Universality, Quality & Economics: Finding a Balance in Ontario and British Columbia

1994 ◽  
Vol 20 (1-2) ◽  
pp. 203-229
Author(s):  
John D. Blum
Keyword(s):  
Health Reform ◽  
New Ventures ◽  
The United States ◽  
High Price ◽  
Social Programs ◽  
Policy Makers ◽  
High Expectations ◽  
The Us ◽  
Acceptable Model ◽  
National Economies

National economies worldwide are in disarray, evidenced by escalating debts and growing deficits. As countries struggle with their faltering economies they are hard pressed to fulfill commitments of social programs made in more prosperous times, much less take on new government initiatives. The current experiences in health reform in the United States present an interesting example of the dilemmas governments now face when they embark on new ventures. While great political pressures have been launched and high expectations abound, the reality of American health reform quickly reveals that expanded access will come at a high price that won't be offset easily by conventional cost containment or market forces.In the search for an acceptable model for health reform, it was popular for policy makers and academics to turn their attentions to the health systems of other nations. Recommendations were made that the US should adopt a German or Canadian solution for our health problems.

Evaluation of a Mystery Shopper Intervention to Reduce Sales of Alcohol to Minors in Zacatecas and Guadalupe, Mexico

2020 ◽  
pp. 004723792098177
Author(s):  
Mallie J. Paschall ◽  
Joel W. Grube ◽  
Ted R. Miller ◽  
Christopher L. Ringwalt ◽  
Deborah A. Fisher ◽  
...  
Keyword(s):  
Experimental Evaluation ◽  
Middle Income ◽  
Middle Income Countries ◽  
Convenience Stores ◽  
Quasi Experimental ◽  
Mystery Shopper ◽  
Low And Middle Income

We report the results of a quasi-experimental evaluation of a mystery shopper intervention in Zacatecas and Guadalupe, Mexico. Underage youth attempted to purchase beer at 50 Modelorama stores and 32 Oxxo stores (intervention groups), and at 19 comparison convenience stores in March, July, and August 2018. After each attempt, intervention store operators were informed if a sale was made. Modelorama operators also received training and were warned that repeated sales to minors could jeopardize their franchise. Average sales rates to minors were 63.8% at Modeloramas, 86.5% at Oxxo stores, and 98.2% at comparison stores. The findings suggest that mystery shopper interventions with training, feedback to store operators, and sanctions after repeated sales to underage youth may reduce sales to minors in low- and middle-income countries.

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